All Forum Posts by: Zack S.

@Robert Harpster I can give you prelim. thoughts if you’d like. I’m a commercial investor in Orlando.

@Daniel Okorie costar

@Iyan Tan I would actually guess the $80K is his net. $7,000/mo is $84,000 in annual rent. Also, where is this located? Seems like a lot to pay for a warehouse, but ultimately depends on the market location etc. I’m asking $12/SF including CAM, taxes & ins. in Orlando for 1,500-3,000 square foot units. Keyword is asking. The larger the unit the lower $/SF.

@Rafael Weiss send me the deal and I’ll give you an opinion. I invest in industrial warehouse properties in Orlando. I just bought a vaccant one in an opportunity zone, zip code 32805. We aren’t acquiring right now (enough on our plate) and I wouldn’t steal a deal from someone...if that’s a concern of yours.

@Eddie Gonnella I recommend telling them you’re looking for a bid on the project. It’s good to be upfront that it’s being bid out to multiple subs.

@Meg Epstein I’m working on a small bay development in Orlando. Would love to talk more about steel building etc

What’s your company name? I’d like to learn more.

Also, if it’s under contract, presumably you would work to agree to terms to put it under contract as soon as you agree to an LOI. You would the have exclusive rights to purchase, according to the agreed terms such as due diligence period, price, etc. Any back up offers would be if you can’t or don’t close based on the agreed time frame in the contract. For example, if you have 60 days for due diligence plus 30 days to close, the seller wouldn’t want to keep the property off the market for 90 days. They would want to keep showing the property and getting offers until you closed your contract. Bottom line, agree to terms and get it under contract ASAP, as long as it works for you.

I’m not sure if this answers your question, but here is something to think about: As a landlord, in my leases, the tenant is always responsible for obtaining and doing what is necessary, as per their use, to obtain a CO. Regarding the code violations or issues; that is something that would come up during your due diligence. If there was such an issue, you would renegotiate the price to accommodate for the initial investment you will have to make upon purchase due to the seller’s lack of proper construction or maintenance. As a landlord, I warrant that the structure, plumbing, and electrical are in good working condition upon commencement date, plus anything we agreed to as the Landlord’s Work. Let’s say for example that there is now a requirement for buildings or units of a certain size to have a sprinkler system, but due to the subject property’s age, there is none. It may not be fair to require the seller to install a sprinkler system because of the amount of improvements you want to make, which may trigger a requirement to bring the building up to code just for you to obtain your CO. That type of cost is normally incurred by the tenant or buyer.

Yes, me! Also, check out 2300 S French Ave (17-92) in Sanford. Small retail center for sale!